Seeking Alpha
  • Robert Edwards
    We bounced off the lows in $NUGT, $GDX, $NEM, $GLD and topping in $DUST. New article, click http://seekingalpha.com/p/1gam7
    11/25/13
    Reply (268)
    • bd4uandu: I follow you and like your blog
      11/25/13
    • WallysWrld: Note: My "$GoLD" in reply above is reference to Spot Gold price (see Kitco-60day spot gold chart) compare Oct15/16/17 to yesterday/today/Wed
      11/26/13
    • Robert Edwards: wally, I have been looking at that exact pattern for a couple days. For a few days gold has wanted to find a bottom. Just need the pop!
      11/26/13
    • Robert Edwards: If today is similar to 10/16, now we established lows in low 1240s in gold, bounce later today, back to the low 1250s, & go up big Wednesday
      11/26/13
    • dan1981: RE without any fundamental reason we go up on Wednesday big ?
      11/26/13
    • ptTL9: BS Downgrades Short-Term Gold Target To $1,180/Oz is this what pulling gold down today?
      11/26/13
    • Robert Edwards: Fundamental reason will be that gold traders r heavily short and if we don't move down, then they cover and short covering makes go up big
      11/26/13
    • ptTL9: UBS, LOL
      11/26/13
    • Robert Edwards: the press will come up with some news item to explain Wednesday pop if we get it, but it will b bogus. Real reason is too many shorts n gold
      11/26/13
    • Robert Edwards: way, way, way too many shorts in miners LOL. Short covering rally is way, way, way overdue. when Jerks up quick it is short covering
      11/26/13
    • glaserdx: potential for short-covering b4 Thanksgiving weekend
      11/26/13
    • Robert Edwards: we gapped down today in gdx and should work hard to fill gap if gold would just quit dropping. very dangerous being short gold or gdx now
      11/26/13
    • Robert Edwards: that is the bad things about hammers like we got in NEM yesterday. So often they retrace the same prices the next day. Still bullish
      11/26/13
    • ptTL9: gold making a stand
      11/26/13
    • ptTL9: eur is up, should be helping
      11/26/13
    • ptTL9: headlines now are all about short covering, and Cramer recomens GOLD lol all should be helping RE's prediction of the rally
      11/26/13
    • WallysWrld: Yesterday $GoLD action copied Oct15, if today=Oct16 London PM will close below London AM & NY close ABOVE London AM, then Wed=Oct17 jump 40!
      11/26/13
    • newbie872: Sorry gents - too unbearable to watch anymore - had to dump position, but NUGT is now free to soar - which it probably will.
      11/26/13
    • dan1981: Ok that wud be a technical bounce maybe very short term.?
      11/26/13
    • Robert Edwards: Miners can't get off the floor and it frustrates. More bulls giving up again today. Very sad. Will take a pop in gold to get miners up
      11/26/13
    • Robert Edwards: Very unfortunate but true that each time a bull gives up following this blog, the bottom gets that much closer. When selling by bulls
      11/26/13
    • Robert Edwards: When selling by frustrated bulls ends and shorting completed by bears, then no place to go but up. Only buy orders after that.
      11/26/13
    • Robert Edwards: Look at any chart and see how many $ we rally and how many $ we fall. Then calculate where the current bottom is and add $5 or so like GDX
      11/26/13
    • shopvac20: still holding fast, i am a bull in serious need of an energy drink!
      11/26/13
    • Robert Edwards: GDX here 5 year lows. Doubt we r going lower than 20, then add $5 and you get $25. Might as well hold out with bottom near as now
      11/26/13
    • davePx: I thought we might get a temporary reprieve today but it seems we are in a holding pattern
      11/26/13
    • davePx: Any thoughts on why we are not seeing a definitive bottom here?
      11/26/13
    • Robert Edwards: gold could drop as low as 1239 today and almost there. gold should pop leter today to help miners but who knows. could b 3-4 day bottoming
      11/26/13
    • Robert Edwards: the market is waiting 4 me to dump my NUGT so it can rally without me. I refuse. may take a couple days for market 2 realize I ain't selling
      11/26/13
    • Robert Edwards: i have gdx too and i may sell it someday soon but it won't be at 5 year lows. u can bank on that
      11/26/13
    • Robert Edwards: i was willing to hold NuGT from 60 to 30 so i refuse to sell nugt at 30 when i am long nugt now just below 41. i will hold now till 20
      11/26/13
    • Robert Edwards: surely 27 or 28 in nugt is the bottom
      11/26/13
    • Robert Edwards: if NUGT stops 27 should rally to 42. if stops at 21 then only get 35, still better than 30
      11/26/13
    • Robert Edwards: but if NUGT gets to 21, it could rebound so hard and fast that it actually does give me 42 even from that low of a bottom
      11/26/13
    • Growfast: Bottom fishing sure is fun. We are bound to pull up a catfish soon! How low can we go? Lets do this and get on with the rally.
      11/26/13
    • Growfast: Interesting that the volume is low on short and long positions and the action is very sluggish. Calm before the storm perhaps
      11/26/13
    • Robert Edwards: I got a good deal of my position in NUGT below 38. If we could just return to 23.50 in GDX, my problems are solved. That is just $2 pop
      11/26/13
    • Robert Edwards: Grow, it appears traders r already out of town or thinking about turkey. Kept thinking that they would cash in shorts but maybe not.
      11/26/13
    • Robert Edwards: Gold got in the 1239s so any stops in Feb gold are hit below 1240 and we can now rally back out of the hole maybe.
      11/26/13
    • Growfast: DUST is near high and needling up against 70 on the RSI. It's either going to break through and run, or it's about to roll over for us
      11/26/13
    • Growfast: If I were in DUST, I think I would be a seller of 90% of my position here.
      11/26/13
    • Robert Edwards: Grow, u were in dust til I helped push u out prematurely, my condolences. Never saw this much GDX weakness as a high probability, but wrong
      11/26/13
    • Growfast: :-) No problem, RE. I've made money and lost money on NUGT and DUST. So far this year down a good bit and looking to make it up. I wasn't
      11/26/13
    • Growfast: strong enough in my convictions on DUST to hold it so willingly got out. Hindsight, I always know what I should have done. And, at some
      11/26/13
    • Growfast: point, we will hopefully be saying that hindsight, we made the best decision going long NUGT, GDX and NEM - even if missed on DUST run
      11/26/13
    • Robert Edwards: I believe this experience has been good. It will make me more balanced in my approach in the future and I believe I can avoid most of the
      11/26/13
    • Robert Edwards: most of the drawdowns. There may be some drawdowns in future but nothing like this. I have been rresearching and have some new strategies
      11/26/13
    • Robert Edwards: right now just have to work on getting thru this current situation. Once out, will implement a new approach n future that should work better
      11/26/13
    • Robert Edwards: I am determined to find a successful trading approach for leveraged ETFs like NUGT & DUST. I believe it can be done.
      11/26/13
    • Growfast: Riding the intermediate term trend, I think is the easiest. If you are with the trend and find the right entry point on or following turns
      11/26/13
    • Growfast: NUGT and DUST work great for you. Been there a few times. But, if entry point is not correct, or your not on the intermediate trend, NUGT
      11/26/13
    • Growfast: and DUST can be hard to manage. They can move strongly against you, but if you are right on the trend you are playing, they can recover and
      11/26/13
    • Growfast: more. But, just as we sit today, one begins to doubt themselves when seeing large red numbers about being right about the trend play.
      11/26/13
    • rodh7858: Rob: Can u elaborate more on these strategy to avoid draw-downs? That would be the holy grail to trading leveraged ETFs.
      11/26/13
    • Growfast: Look forward to your new strategies. If I had this to play over again, I would have gone long as we did, but offset with hedges with puts
      11/26/13
    • Growfast: That way, down move and continuing current trend pays on the puts to offset losses on longs, then when the turn happens, take profits in
      11/26/13
    • Growfast: puts and ride the new trend. If with the right trend and not working to grab a turn, probably don't need the hedge.
      11/26/13
    • Robert Edwards: My new strategy is going to involve selling in the money calls and balancing DUST & NUGT against each other. I am also considering puts too
      11/26/13
    • Robert Edwards: In the money call selling will be used as a defensive measure when already long DUST or NUGT and not working properly
      11/26/13
    • Growfast: Cool. I think that will work too. Bring in the premiums and get the exit on the position so the fall doesn't continue.
      11/26/13
    • Robert Edwards: I used to be a big short strangles seller of commodity options calls & puts using a delta neutral strategy. I believe twould work well here
      11/26/13
    • Robert Edwards: I used to be a big call and put seller in live cattle back in the 80s & 90s. Those were the days.
      11/26/13
    • Robert Edwards: Got tired of fighting for fills. Nothing electronic back then so a human decided if u could get a fill or not.
      11/26/13
    • Growfast: Started reading a book that talks about delta neutral strategies like that and making weekly adjustments. Interesting...used in professional
      11/26/13
    • Growfast: commodities trading for large positions and hedging. Should work... interesting in continuing the learning and sharing with you.
      11/26/13
    • Robert Edwards: Market makers would not honor the bid or ask except for 1 contract when forced and maybe I was trading 5 contracts, not much help
      11/26/13
    • Robert Edwards: In NUGT one has to isolate the position and put it in quarantine when it gets sick. I just let NUGT go without treatment & raging fever
      11/26/13
    • shopvac20: its hard to remain confident when your talking about mid 20s for NUGT... I have been in the long haul, and still standing fast looking a pop
      11/26/13
    • Robert Edwards: I strongly believe we will not get below 28 but I have to consider all contingencies and set my limits in advance. hopeful we r there now
      11/26/13
    • rodh7858: Also AKM seems to have pretty accurate ranges in $NUGT and $DUST. Would be gr8 if AKM can give more idea behind the methods.
      11/26/13
    • glaserdx: was going to buy DUST at 44 this morning but talked myself out of it saying the relentless down draft in NUGT could not be sustained...
      11/26/13
    • Robert Edwards: AKM has good ideas. We collaborated on 38 to 40 target in DUST that eventually went much higher. I did not even wait for the first target
      11/26/13
    • Robert Edwards: AKM warned me that the technicals were not supporting quick turn from DUST to NUGT but I thought this was an exception 2 rules but was wrong
      11/26/13
    • Robert Edwards: all rules are probabilities and after awhile you get to thinking u can pick the times the rules won't work but that is a fool's game as
      11/26/13
    • Robert Edwards: odds are against you when you play something with less than 65 to 85% probability. Need to stick to the high probability only trades
      11/26/13
    • Robert Edwards: I never anticipated the underperformance of miners to the metal could continue. That is the biggest mistake I made in my calculations
      11/26/13
    • Robert Edwards: AKM has pointed out chart patterns that he sees may be helpful to a current situation related to DUST & NUGT. He has a good technician sense
      11/26/13
    • Robert Edwards: gold closed down 30 cents in Feb. from yesterday 1241.30 so there is no excuse for GDX to be this week again today. Underperformance again
      11/26/13
    • Robert Edwards: gold is same place it was last Thursday's close. GDX is nearly $2 lower than when gold was here last week
      11/26/13
    • justin.zhou10: Looks like no later hour pop today. Gold does NEED a reason to rally but find none.
      11/26/13
    • Robert Edwards: without that underperformance, I would b in good shape. I follow gold to see if I need to b defensive and it says no
      11/26/13
    • Robert Edwards: gdx falling out of bed says I should have taken protection but I did not see it coming because if gold pops soon, don't want protection
      11/26/13
    • Robert Edwards: Justin, we still have a couple hours to work a miracle rally. Not giving up yet, 1243 gold is up 1.70 from close. could still move up
      11/26/13
    • justin.zhou10: Tomorrow probably will be a neutral day. If gdx close at low, it would not feel good. It is hard to trade either long or short side of gdx.
      11/26/13
    • Robert Edwards: I am still holding out for a late day rally in gold today with big move up tomorrow.
      11/26/13
    • justin.zhou10: Rob, I hope you are right. Technically gdx way oversold, but it could get worse before better.
      11/26/13
    • justin.zhou10: Gold could only find support when gold ETFs stop bleeding. I image this week's COT report will get really ugly and short cover should
      11/26/13
    • justin.zhou10: happen next week and people will realize Fed will not taper in Dec. and market's endless rally will continue.
      11/26/13
    • justin.zhou10: And gold could get its long overdue bounce.
      11/26/13
    • glaserdx: Rob-for my edification - you normally would be scalping, making many trades and I don't see you doing that--can you tell me why that is?
      11/26/13
    • justin.zhou10: Rob, what is your take on the Dec. Fed taper decision?
      11/26/13
    • gonetouring: Made the switch from DUST to NUGT today. All pointers to a GLD rally before 11/29 Will be interesting to see start of Dec notices this week
      11/26/13
    • gonetouring: It would only take a piece of distressing news from the Middle East to send gold the direction that we need it - beyond the banks control ..
      11/26/13
    • shopvac20: gold is steady at 1242 ish, and nugt keeps bleeding ... erased our little pop yesterday...RE we need that afternoon pop today
      11/26/13
    • Robert Edwards: Glaser, I am not scalping because I am getting ready for thanksgiving, ranges so tight does not lend to much potential, also stuck in NUGT
      11/26/13
    • Robert Edwards: regarding COT report, it shows positioning most bearish gold since past date and you look at that date and it was a bottom!!!
      11/26/13
    • rodh7858: Not sure how many have seen this Bloomberg article: http://bloom.bg/18EW654
      11/26/13
    • justin.zhou10: If history any guide, last time gdx went from 28.64 to 22.88 before bouncing back. Same calculation this time it should go from
      11/26/13
    • justin.zhou10: 26.91 to 21.5 for a 20 percent fall, which we got it yesterday. I will start buying NUGT at 29.6 if it could ever get there
      11/26/13
    • justin.zhou10: or ride whatever the bounce in the coming days.
      11/26/13
    • Lefty6x6: taper march 14, we will see a bit of a rally, maybe even a 'pop' prob 2moro or during half day fri. treading water is better than drowning
      11/26/13
    • Lefty6x6: scalped some dust today (45 to 45.35) sitting on nugt @ 30.50 - may buy more if it hits 30 even
      11/26/13
    • justin.zhou10: It should be very close. I'd rather gold go down another 2-3 percent and nugt fall with it, not like gdx falls by itself for no reason.
      11/26/13
    • WallysWrld: Last 11/26/12 gold=1750, $5gold=$1nugt, if gold went back up $500, then nugt=$130!!! Just dreaming a little, I'll sell if I see $40 again!!!
      11/26/13
    • Lefty6x6: Justin- true dat. 'oversold' means nothing, as there is a buyer for each sell. some parties are certainly accumulating at fire sale prices.
      11/26/13
    • justin.zhou10: Lefty, 30 nugt is a steal for sure. But yesterday I was thrown out just a little above that price. My concern is that as gold continue
      11/26/13
    • justin.zhou10: downward, the damage to gdx could be amplified since it is close to the miners all-in-cost.
      11/26/13
    • justin.zhou10: By the same calculation, last time gold 1375.4->1251, this time it should be 1361.8 -> 1238.7 with 9 percent. But if gold continue fall
      11/26/13
    • justin.zhou10: all bets are off, that is the scary part we need a plan B for.
      11/26/13
    • Lefty6x6: agree. but I also think that production cost is a catylist for M&A. collectively, consolidation of the miners would be good for prod cost
      11/26/13
    • justin.zhou10: I guess we probably will see a day that miners rise while gold goes down. That is the day miners find their bottom like happened in June.
      11/26/13
    • justin.zhou10: anyway, after venting out, I will be out hunting for some turkey meat.
      11/26/13
    • shopvac20: would M&A be good for NUGT (minors) or do we have to prepared for that ???
      11/26/13
    • justin.zhou10: May be helpful for gdxj, but could be bad for gdx I guess.
      11/26/13
    • davePx: Robert, how do you see today closing?
      11/26/13
    • Lefty6x6: took another bite @ 30
      11/26/13
    • akm907: ideally NUGT should stop at 30 (-5% to -10%), and not much below. That would break the pattern, these are technicals. Sell @ 40 never @ 30
      11/26/13
    • akm907: I do see this ride to 40 come up in very short term (say in < 7 days or so), be ready to bail when it hits there.
      11/26/13
    • Growfast: I think/hope you got a nice grab there at 30.
      11/26/13
    • akm907: todays action i guess is deliberate action to double bottom from yesterday. tomorrow should spike.
      11/26/13
    • Lefty6x6: yea, I think so. the way I see it, it don't cost anything to sit and wait.
      11/26/13
    • justin.zhou10: Tomorrow initial claims, sentiment could help, but other data could be negative. I do not expect big change in gold before turkey day though
      11/26/13
    • Growfast: I just put in a hedge to buy Dec 21 NUGT put @25 to exactly offset my holdings in NUGT. If we move lower, I should offset losses in NUGT
      11/26/13
    • Growfast: with put (assuming gets executed). If we go higher on NUGT, puts can go to expiration worthless as the position cost me around $1K. Figure
      11/26/13
    • Growfast: that to be good protection. And, now that the order is in, we are likely to rally!
      11/26/13
    • Growfast: Got the fill on my NUGT put and looked over at NUGT and now it is moving!
      11/26/13
    • shopvac20: thanks for the sacrifice ... now lets lift off!
      11/26/13
    • rodh7858: AKM: Are u in $NUGT now or still in $DUST?
      11/26/13
    • justin.zhou10: 5 down days in a row, amazing. tomorrow could be an up day.
      11/26/13
    • Lefty6x6: I managed to scalp for a net gain today - still sitting on core pile of nugt @ 30.25 -- looking good for tomorrow.
      11/26/13
    • justin.zhou10: nice catch at 30, I am just tired of scalping, too stressful. Trying to do 1 or 2 big trades per day to make my life happier.
      11/26/13
    • shopvac20: RE, any thoughts on closing ?
      11/26/13
    • Lefty6x6: Justin, on my busy days (read: gotta catch the tide for fishing) I like to do the same. Usually it's the market open pop and out deal.
      11/26/13
    • Lefty6x6: then I will buy whatever is down due to that pop, set sell point and go on my day. normally that sell point gets hit on the teeter totter
      11/26/13
    • bobzic: $NUGT : I think we will see a long bottoming process with a final low in january. It is time to switch for $DUST.
      11/26/13
    • akm907: rodh, I was not in dust. I do not do quick scalps or day trades. I burnt my hands earlier and learnt hardway. I do not purchase in the
      11/26/13
    • akm907: middle of run ups for 20% profits . I'd prefer long trades of stock only 3-4 week.
      11/26/13
    • akm907: I bought at 40 but put my stop order at 41 and got stopped out. I do not fight against trend.
      11/26/13
    • akm907: Prefer establishing long position at bottomed price. Dont know bottom yet. But its around 30 for sure
      11/26/13
    • akm907: I bought all handful nugt in all accounts at 29.7 and have stop order for 29.8,
      11/26/13
    • akm907: Although I do not prefer bottom finding, I think i want to be safe. If hit on stop will buy back 28
      11/26/13
    • akm907: feel comfortable here as well as I expect nugt to hit 43-44 range in short term.
      11/26/13
    • glaserdx: akm--am very interested in why u think NUGT bottom is around 30...?
      11/26/13
    • akm907: Charts indicate reversal after being down 50% of recent high at 57.. dust up 100% this is the bottom.
      11/26/13
    • glaserdx: thank you!
      11/26/13
    • justin.zhou10: gdx is in the 3rd down week, although it could continue into next week, since this wk no big news to change the mood, the bounce is overdue
      11/26/13
    • justin.zhou10: I will catch this cornered big fish this time for sure. The catalyst could be next wk's labor and Fed taper and the extreme oversold.
      11/26/13
    • justin.zhou10: I do not know how low it could go, but I am sure it will bounce, that is all I need to know.
      11/26/13
    • Growfast: Gold price almost appears flatlined at EOD and going into tonight. Guess we don't have catalysts to drive selling or buying. When that
      11/26/13
    • Growfast: changes, we should see the pop. USD DXY index low, treasuries up on weaker consumer sentiment - gold not responding. 1 catalyst should drive
      11/26/13
    • Robert Edwards: Had to run some errands and just got back. Glad to see we did not make new lows on the close, hope that is a good omen, could use good news
      11/26/13
    • Robert Edwards: They say a watched pot never boils, because they never traded the miners. We know a watched GDX never turns up, LOL. Tomorrow...surely...
      11/26/13
    • glaserdx: Hope so -- - DUST is moving up aftr hrs
      11/26/13
    • newbie872: Will see what tomorrow holds 'bulls still didn't show reversal pattern for GDX/NUGT today. tho, first sign could be big up day in GDX/NUGT
      11/26/13
    • newbie872: Swapped NUG for DUST today. Late to the party, so only 3% up, but better than 7% down... too bad it was -23% up to -20%, but it's a start!
      11/26/13
    • davePx: You know I have been waiting for the market in general to have a pull back...that has been a long time coming too. Often gold gets a boost
      11/26/13
    • davePx: When the equities pull back...we will see.
      11/26/13
    • bobzic: $NUGT : one bear bot 81300 shares of $DUST @ 4.12 pm (45.52).
      11/26/13
    • njtoms: A Short Coordinated Attack on GDX. It Began a 2 Weeks ago this Friday. Carter Worth & the Fast $$ Crew got Retail ALL In. Down now 8 Days.
      11/26/13
    • Robert Edwards: 8 days down in a row is a contrarian trader's dream. GDX is a screaming buy when it turns. Harder 2 fall n here than rally from this point
      11/27/13
    • Robert Edwards: I believe trader DUST just said his goodbyes for now. Anyone too frightened to hold can always sell out 50%, even at the bottom, no problem
      11/27/13
    • Robert Edwards: But nice to keep half position to stay in the game and have the chance of recovery. Selling half raises cash to average down if fall more
      11/27/13
    • Robert Edwards: trader DUST is fearful of 1180 breaking down. This is major low and first real retest if now. First or 2nd retest of this low should not
      11/27/13
    • Robert Edwards: should not fail and should bounce. Only 3rd or more likely 4th retest should fail. Cannot have fear of gold breakdown and be successful.
      11/27/13
    • Robert Edwards: Last 3 years I got scared out more than once in gold, fearful of the bottom falling thru. When I stop fearing, I stopped losing and have
      11/27/13
    • Robert Edwards: Have done well since trading gold. Breaking 1180 support is lower than 15% probability IMHO. If breaks should not be before Sept. 2014
      11/27/13
    • davePx: Looking to see 1250 again and up...it would be therapeutic to be in the right place, right time, right perception of direction
      11/27/13
    • Robert Edwards: If 1180 support holds no worries. If breaks and stops at 1150, no worries. Only if 1150 breaks is it panic time. We are at 1251 premarket
      11/27/13
    • Robert Edwards: we r $100 from panic time. I called 1227 low and so far 1226.40 is low. 1220 support, 1200 support, 1180 support, 1150 support. One of
      11/27/13
    • Robert Edwards: One of these supports should hold and pop us back above 1300 and make us whole. I will b more encouraged than ever if we close 1251+ today
      11/27/13
    • Robert Edwards: The fact that everyone is bearish gold for 2014, even the bulls, gives me great confidence 1180 will hold. Record short interest in gold now
      11/27/13
    • Robert Edwards: Everyone is short gold bracing for the bottom and that almost assures we cannot fall thru the bottom. The majority never makes money & u
      11/27/13
    • Robert Edwards: u cannot b successful trading on the side of the majority. U want to be on the side of the 20%. Newsletter writers for goldbugs r
      11/27/13
    • Robert Edwards: goldbug newsletters almost always 65% bullish to 80%. They are now zero to 10% bullish. We may b at a generational bottom in gold, based on
      11/27/13
    • Robert Edwards: based on this one fact alone. Been some dark days, but brighter skies are breaking thru right now. The sgolden sun will rise again!
      11/27/13
    • davePx: Yes I could use some vitamin D!
      11/27/13
    • Robert Edwards: While trading commodities over 30 years I have met several millionaire traders. The thing that was common among all, they never got rattled
      11/27/13
    • Robert Edwards: They fought thru adversity. When they did buy too soon (like I did now), if they had to sell a good portion of their position, they waited
      11/27/13
    • Robert Edwards: waited for another buying chance at lower prices and in the end got back their loss and more than they ever would had they not gotten beatup
      11/27/13
    • Robert Edwards: If I end up losing on my NUGT shares of 41 (don't believe I will) but even if I dumped them at a loss, the nugt shares I buy at 21 will
      11/27/13
    • Robert Edwards: most assuredly get me whole before we get back at 30. My next buy after that at 15 or 10 could set me up for life so not happening
      11/27/13
    • Robert Edwards: The millionaires trade 1 or 2% of their account on any trade, then when they r beaten up at the bottom (like we r now) they kick in 10%
      11/27/13
    • Robert Edwards: 10% of account, or maybe 20% if needed and if NUGT comes back $2 they r whole. The secret is playing small at first. Gotta keep a 2nd
      11/27/13
    • Robert Edwards: 2nd traunch of cash to bail yourself out. I have not been daytrading recently as I can't afford to hang anymore shares, and holding cash
      11/27/13
    • Robert Edwards: holding cash in case NUGT does get to 21 or lower so I can make a killing with 2nd traunch. I hope against hope 28 is low but if NUGT wants
      11/27/13
    • davePx: Well let's see if we can unload enough this morning to allow some freedom/margin in trading I have been tied up since this thing was at 37
      11/27/13
    • Robert Edwards: Wants me to get rich trading big at generational lows, then so be it. That is the attitude one must have to be successful trading DUST/NUGT
      11/27/13
    • Robert Edwards: These r my opinions everyone. Very encouraged. No fear. Very comfortable being long GDX/NUGT/NEM. Very hopeful. But I am optimist.
      11/27/13
    • davePx: I believe there is so much money going to US and forgiven equities that gold has taken second place for investors right now
      11/27/13
    • nclsamy: RE, thank you for the great trading lesson!
      11/27/13
    • davePx: Sorry foreign equity ....
      11/27/13
    • davePx: Yes thanks Robert.
      11/27/13
    • Growfast: Robert, I think you are exactly right on getting in at generational lows. For now, we are likely at lows for the next rally. But, we may see
      11/27/13
    • Growfast: more lows in the future as we are still in a intermediate term bear cycle. But if we are in at the low for that bear, whether now or in 2014
      11/27/13
    • Growfast: - long ride up on the other side. Just look at 3 year chart on NUGT for the ride down. Flip the chart and that is future opportunity
      11/27/13
    • davePx: Good visual prospective, this brings into focus the differences in the investment vehicles, and ones tolerance.
      11/27/13
    • davePx: A lot of negative press today...
      11/27/13
    • shopvac20: gold fought a good fight last night to climb back over 1250, needs to keep running, dont give up now.
      11/27/13
    • Robert Edwards: grow, major longterm strength cycle n gold kicks in July 2014. between now & next July could gets dips to scare out bulls. working so far
      11/27/13
    • Robert Edwards: like clockwork, approaching stock opening & smacking gold to hurt miners. selling relentless. cannot continue at this pace. low soon
      11/27/13
    • Lefty6x6: morning pop in the works - sell into that, pick up some dust to hold thru the day, and sell it when the chart swings back the other way
      11/27/13
    • Lefty6x6: teeter totter..its not just for kids anymore !
      11/27/13
    • Robert Edwards: when we bottom over next few months, DUST will take on look of NUGT chart & visa versa. reverse split twice on DUST next time.
      11/27/13
    • Lefty6x6: ...and theres your morning pop and chance to buy dust and soon sell it too. I sold nugt @ 30.20, bought dust @ 43.60
      11/27/13
    • justin.zhou10: Sold some nugt bought this morning. No big move so far today. Oh, I was lucky before got caught.
      11/27/13
    • shopvac20: just getting annoying at this point, I dont know what will bring up gold without an event at we nose dive to 30.50 in nugt ...
      11/27/13
    • justin.zhou10: Lefty, @31.20, I guess?
      11/27/13
    • glaserdx: Lefty-bought Dust @44
      11/27/13
    • Lefty6x6: sorry, yes 31.20 -- just sold dust @ 45...i'm out, goin fishin ! good luck guys
      11/27/13
    • Robert Edwards: big sell order hits gold market knocking down to 1245. helping gdx fill gap
      11/27/13
    • justin.zhou10: Nice, what a way to start a new day.
      11/27/13
    • justin.zhou10: I guess we will go flat from here. But today is an up day.
      11/27/13
    • shopvac20: different day same stuff
      11/27/13
    • Growfast: Time to go fishing with Lefty. But, plenty of time for something different. Appears to me that bias is to make data look good so FED can
      11/27/13
    • Growfast: taper. It seems possible they may choose to taper some in Dec. And, that could hit stocks I think because they have rallied continuously.
      11/27/13
    • Growfast: Gold appears to be pricing in and has not responded even to data that appears good for Gold. Lets see if the data bias today continues
      11/27/13
    • glaserdx: sold DUST for quick scalp
      11/27/13
    • justin.zhou10: gdx underperform again, this is brutal.
      11/27/13
    • shopvac20: from past experience wouldn't a taper announcement knock down gold, thus gxd/nugt?
      11/27/13
    • shopvac20: I should try to scalp DUST, this would be a sure sign NUGT would go up
      11/27/13
    • justin.zhou10: Since gold already down almost 10% since last meeting, no taper should help. But data points now are against it.
      11/27/13
    • Robert Edwards: yesterday's low in gold 1239.20, could run stops then boom
      11/27/13
    • Robert Edwards: taper talk has been factoring taper in gold so much that when taper actually begins, gold almost definitely rallies
      11/27/13
    • justin.zhou10: also gold holds up well in the face of good data those days means support is around here before job data. looks like a safe bet
      11/27/13
    • justin.zhou10: long nugt around 30 or less.
      11/27/13
    • Robert Edwards: would b good if we stay above 1241.00 as we retest low in gold here. don't want 2 see new LOD (low of day). Monday GDX opened 21.85 then
      11/27/13
    • Robert Edwards: 21.98 open GDX yesterday & 21.88 today. stops into new low open Monday still lowest open. could b miner sign we r about 2 bottom
      11/27/13
    • Robert Edwards: NEM made new lows every day but Monday low still holding 21.52 GDX and yesterday's low not taken out today by couple cents
      11/27/13
    • Robert Edwards: NEM not helping GDX as in minus again with GDX u. Smaller gold stocks bottoming before biggest ones. as a few miners bottom early their
      11/27/13
    • Robert Edwards: up ticks help cancel out down ticks of others so harder and harder to make new lows and bears get tired and take profits & shortcovering pop
      11/27/13
    • Robert Edwards: these r all early signs we r near a bottom. looking more & more NUGT low no worse than 28 & maybe 29 & change.
      11/27/13
    • Robert Edwards: gold is near low and GDX trying to ignore it. good sign and welcome change.
      11/27/13
    • Robert Edwards: after 8 down in a row hard to stretch to 9 for GDX. 8 heads in a row flipping coin, time 4 tails.
      11/27/13
    • davePx: Yes looking a bit perky today. Is that a technical enough term?
      11/27/13
    • Robert Edwards: if ever we r due 4 late shortcovering pop in gold going into holiday is today. gold goes above 1255 late could run to 1270+ running stops
      11/27/13
    • Robert Edwards: also we have been below 1250 all day session in gold and stayed above 1250 all night session. due to retrace highs late today
      11/27/13
    • Robert Edwards: on retest, low in gold held, now need to move above 1245 & GDX should make new HOD above 22.00 and bottom in for today
      11/27/13
    • davePx: Yes seems to be going that route...may see a run crossing 200 min moving av.
      11/27/13
    • Robert Edwards: ran stops. broke yesterday's low in gold
      11/27/13
    • justin.zhou10: Ok I was wrong, somebody just woke up and started dumping on gold.
      11/27/13
    • Robert Edwards: big order manipulation at its finest
      11/27/13
    • Robert Edwards: new low by 1 cet in gdx. if we r 2 rally, bulls got 2 make stand & make manipulation fail. if we now rally could b really big shortcovering
      11/27/13
    • Robert Edwards: gold almost back to 1240. impressed with gdx so far
      11/27/13
    • Robert Edwards: even weak sister NEM held low, gold above 1240 at 1242 it failed
      11/27/13
    • Robert Edwards: very positive action so far, encouraged.
      11/27/13
    • shopvac20: golds below 1240 ... I see it at 1239.50 at the moment :(
      11/27/13
    • justin.zhou10: The drop is worse than the Oct. one. Anyway, either gold bulls sell in exchange for a peaceful holiday or manipulation at its highest.
      11/27/13
    • davePx: Should be bottoming wave 5 of Elliot wave ....this rally needs to happen!
      11/27/13
    • newbie872: Sold out another +2% in DUST today. Gonna stay out for a few days R&R over the holiday, see what Mon. holds. Good Luck everyone!
      11/27/13
    • Growfast: Very slow action this afternoon. Someone just plunked down for 330K shares of NUGT a few minutes ago. they must be getting ready for rise
      11/27/13
    • glaserdx: Happy Thanksgiving to everyone.
      11/27/13
    • justin.zhou10: Up day for sure. Happy holiday.
      11/27/13
    • Growfast: Great Thanksgiving, Glaser, RE and all. Look forward to battle next week.
      11/27/13
    • vanebfbc: Relatively flat day, but glad it's in the green side. Happy Thanksgiving for those in the States!
      11/27/13
    • davePx: Yes good to end on the up note. Have a good Thanksgiving everyone, watch out for the crazies out there
      11/27/13
    • shopvac20: Happy thanksgiving to all ... enjoy that turkey, we live to battle another day, even market watch now has a bullish rating for NUGT :)
      11/27/13
    • Robert Edwards: Happy Thanksgiving to all. Sharing with our families is what really matters. And may we come back refreshed for battle on Monday.
      11/27/13
    • Robert Edwards: We r back above 1251 in gold in the premarket this Friday. I won't b near a computer to post comments today but it is a very good sign
      11/29/13
    • Robert Edwards: Check out this article: http://on.mktw.net/18bldJ8 also americanbulls.com could turn long today on higher close as bullish wednesday
      11/29/13
    • davePx: The patient does have a heartbeat !
      11/29/13
    • gonetouring: ... or Friday. China/Japan tension giving gold the lift that is needed?
      11/29/13
    • johnpsychdoc: Would be encouraging if GDX could close above the late June resistance of 22.21.
      11/29/13
    • Robert Edwards: GDX & NUGT are buys on americanbulls.com, check out http://bit.ly/1htwdIC and we did get a close in GDX above the old low of 22.21
      11/29/13
    • Robert Edwards: Americanbulls.com went long GLD today, at a higher price than they shorted GLD just 7 days ago. gold & GDX closed up on the weekly charts
      11/29/13
    • gonetouring: Major resistance for gold at $1256. Will see if the cartel smash the open in Asia Monday -
      11/29/13
    • gonetouring: or if the Japan/China situation really lights a fire under the price(which the banks cant control)
      11/29/13
    • ptTL9: http://bit.ly/1cTHLku
      12/1/13
    • Robert Edwards: New article posted http://seekingalpha.com/p/1glt9 and starting new thread
      12/2/13